MUHAMMAD IBRAHIM SIRAJO, J.C.A. (Delivering the Leading Judgment): Before the High Court of Lagos State, the Respondent, as Claimant, claimed against the Appellant, as Defendant, as follows:
1. The sum of N105,039,975.00 (One hundred and five million, thirty-nine thousand, nine hundred and seventy-five Naira) being the indebtedness of the Defendant to the Claimant arising from the 700,500 litres of AGO (Diesel) supplied by the Claimant to the Defendant.
2. Interest on the said sum of N105,039,975.00 (One hundred and five million, thirty-nine thousand, nine hundred and seventy-five Naira) at the prevailing commercial rate of 21% from 16th July, 2014 till judgment and thereafter at the rate of 15% until final liquidation.
The Writ of Summons initiating the suit was filed along with the Statement of Claim and Motion on Notice for summary judgment filed pursuant to Order 11 Rule 1 of the High Court of Lagos State (Civil Procedure) Rules, 2012.
Upon being served with the originating process, t…